AFR: Queenslanders back mining royalty cuts, page-5

Yeah, think if there was real bad news we would have been told something.

Doing some calcs and think the royalty rate post the Qld 23/24 Budget at a US$ coking coal price ex Qld today about US$230, applying the rates will produce an overall rate of 14.5% or thereabouts just now. . The overall cost of mining washing hauling transporting to port and loading fees ($A3.45/ton Dalrymple Bay) in Bowen basin looks to be around $170-175 a ton, where the Royalty starts at $175/ton so mined coal produced and sold below cost is not taxed. That right? Have I stuffed up?
If the A$ price went below $300(US $200) the rate would be about 10.5%.
The old rate in Qld was 15% over A$150/ton. Flat.
I think they were looking at steaming/energy coal prices when they went for the 'excess profits" attack a la UK govt mob. Thing is steaming coal prices are now back down to much lower levels, way below $175, so they missed the boat there. NSW exports more steaming coal from Newcastle, etc, but Qld is mainly coking coal for steel making, not energy generation. We should learn all this in school but no, they fill it all up with faddish drivel.